3 Stocks Pushing The Electronics Industry Downward

1. As of noon trading, Cree ( CREE) is down $1.61 (-2.6%) to $59.50 on heavy volume Thus far, 2.0 million shares of Cree exchanged hands as compared to its average daily volume of 2.5 million shares. The stock has ranged in price between $58.86-$60.30 after having opened the day at $58.88 as compared to the previous trading day's close of $61.11.

Cree, Inc. develops and manufactures lighting-class light emitting diode (LED) products, lighting products, and semiconductor products for power and radio-frequency (RF) applications. Cree has a market cap of $7.2 billion and is part of the technology sector. The company has a P/E ratio of 104.4, above the S&P 500 P/E ratio of 17.7. Shares are up 81.3% year to date as of the close of trading on Monday.

TheStreet Ratings rates Cree as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and compelling growth in net income. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall. Get the full Cree Ratings Report now.

A reminder about TheStreet Ratings group: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.